Underdog Sues Connecticut to Stop the Suppression of Sports Event Contracts
2026-09-16 16:56:33
According to CoinMeta, Underdog has filed a lawsuit in federal court against officials in Connecticut, seeking to prevent the state from treating its sports betting contracts as illegal gambling, continuing its legal battle with state regulators into a sixth jurisdiction. In the lawsuit filed on Tuesday, Underdog operates a federally regulated designated contract market (DCM), and therefore its contracts should fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC). Underdog argues that Connecticut cannot regulate these products solely under state gambling laws. The company is seeking declaratory and injunctive relief to prevent state officials from enforcing Connecticut's gambling regulations on its sports betting contracts.
Source:Cryptonews
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